Chinese car accounted for 67% of the world’s new energy vehicles sales, January – August 2024

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For the first eight months of 2024, the world’s automobile sales were 58.24 million units; specifically, the new energy vehicle (NEV) sales were 9.39 million units, accounting for 16.1% of the total sales. Breaking it down further, pure electric vehicles accounted for 10.4%, while plug-in hybrid vehicles accounted for 5.7%, and hybrid vehicles accounted for 5.6%. During this period, China’s NEV sales accounted for 67% of the global share, of which July to August was as high as 73%. In the pure electric vehicle and plug-in hybrid markets, China’s share has stabilized at 62% and 77%, respectively.

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Pure electric vehicle market share

For the global pure electric vehicle market share, China’s share was around 60% in 2017-2018, declined slightly in 2019-2020 in which the share was 48% in 2020, rebounded to 65% in 2022, and reached 62% in 2023. For the first eight months of 2024, the share of 62% was maintained.

Automaker201920202021202220232024 Q12024 Q22024 Q3
BYD9.9%6.6%7.1%12.1%16.9%16.9%18.5%18.5%
Tesla20.1%23.1%23.0%20.2%21.3%23.4%18.7%18.4%
Geely3.6%2.0%2.4%5.0%5.6%7.4%7.4%8.9%
Volkswagen4.1%10.5%8.5%5.2%7.4%6.6%6.9%6.5%
SAIC8.2%12.9%14.6%13.3%9.2%6.1%6.5%5.5%
GAC2.8%3.1%2.7%4.0%5.1%2.6%3.2%3.7%
Nio1.4%2.2%2.0%0.0%1.7%1.5%2.3%2.5%
Changan1.9%0.9%1.7%2.7%2.2%3.1%2.9%2.3%
Chery3.1%2.2%2.2%2.9%1.3%1.7%2.8%2.2%
Leapmotor0.6%1.0%1.5%1.1%1.2%1.6%2.2%
FAW1.4%0.4%0.8%1.9%1.1%1.0%1.6%1.8%
Chinese automaker’s share in the world’s pure electric vehicle market

In terms of Chinese automaker’s share in the world’s pure electric market, BYD’s share has generally continued to rise. From 2017 to 2021, the overall share level remained above 7%, then rose to 12% in 2022, 17% in 2023, and 18.5% in 2024. Additionally, Geely’s share rose from 4% in 2019 to 8% in 2024.

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Plug-in hybrid market share

Country201920202021202220232024 Q12024 Q22024 Q3
China41.9%24.6%32.3%55.5%68.9%69.3%77.5%82.8%
Germany9.2%25.6%18%13.2%4.4%4.0%3.1%2.6%
Japan3.0%1.3%1.3%1.4%1.3%1.9%1.1%1.1%
China, Germany, and Japan’s share in the global plug-in hybrid market

For the global plug-in hybrid market, China’s share ranged from 30% to 50% in 2017-2018, and fell to 25% in 2020. In 2021, China’s share of global plug-in hybrids was 32%, rising to 56% in 2022, and 69% in 2023. From January to August 2024, the share rose to 77%, of which the second quarter reached 78%.

Hybrid market share

Country201920202021202220232024 Q12024 Q22024 Q3
China11.9%16.5%19.4%22.5%17.5%13.6%16.2%18.2%
Germany2.1%2.5%2.5%3.1%2.6%2.6%3.2%3.6%
South Korea4.0%5.6%4.9%5.5%6.3%6.9%6.6%3.4%
Japan44.3%36.7%27.3%24.9%26.0%27.4%21.4%23.7%
China, Germany, and Japan’s share in the global hybrid market

China’s hybrid market share was climbing from 2019 to 2022, then declining in 2023, and rebounding in Q3 of 2024.

New energy vehicle penetration rate

The global penetration rate of NEVs is generally showing a rapid upward trend, reaching 13% in 2022, 16% in 2023, and low in early 2024, with only 15% in the first quarter, 18.5% in the second quarter, and 16.9% in the first half of the year. For the first eight months of 2024, China’s NEV penetration rate reached 36.4%, Germany reached 16%, Norway reached 60.6%, the United States only 9%, and Japan only 3%.

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Source: Cui Dongshu

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Find all the numbers you need about the China EV market, all in one place – China EV DataTracker.

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3 COMMENTS

    • It is not explicitly called out in the Chinese database whether the 67% includes foreign brand vehicles produced in China, by pure extrapolation from the data, I think the answer is yes. For example, Tesla’s total share of the global EV sales is 20.1% to date; however, the United States only accounted for 11.9% of the global EV sales.

    • 67% is the Chinese market’s share of the global NEV market, regardless of brand. But Chinese brands dominate the domestic NEV market in China, especially BYD. And most foriegn-branded NEV’s sold in China are still made in China.

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